To: Jenna who wrote (65931 ) 10/12/1999 10:45:00 PM From: Jenna Read Replies (1) | Respond to of 120523
MTG + 2 1/4..AUDC +3 earning suprises (earnings plays) MILWAUKEE, Oct 12 (Reuters) - MGIC Investment Corp., a leading provider of private mortgage insurance coverage in the United States, reported record third quarter earnings of $122.9 million on Tuesday, driven by a strong economy and growth in its insurance business. Earnings for the quarter ended September 30 increased 27 percent over the $96.5 million in earnings reported in the third quarter of 1998. Earnings-per-share rose to $1.11 from $0.86 for the third quarter of 1998, an increase of 29 percent, surpassing analysts' consensus forecast of $1.04 according to First Call/Thomson, which tracks Wall Street forecasts. "The company is pleased to report record earnings in the third quarter driven by higher insurance in force growth, continued excellent loss performance and lower underwriting expenses," William Lacy, chairman and chief executive of MGIC Investment and chairman of Mortgage Guaranty Insurance Corp, said. >>>>>>>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< AudioCodes Reports Record Third Quarter and Nine-Months Results YEHUD, Israel--(BUSINESS WIRE)--October 12, 1999--AudioCodes Ltd. (NASDAQ: AUDC - news), a leading provider of IP Telephony and voice over packet technologies, today announced financial results for the third quarter and nine months ended September 30, 1999. Net revenues for the third quarter ended September 30, 1999 were US$8.3 million, an increase of 245 percent compared with revenues of US$2.4 million for the third quarter ended September 30, 1998. Net income for the third quarter was US$2.9 million compared with a net income of US$117,000 for the same period last year. Fully diluted earnings per share was US$0.15 compared with a fully diluted earnings per share of US$0.01 for the third quarter ended September 30, 1998. Net revenues for the nine months ended September 30, 1999 were US$21.0 million, an increase of 275 percent over the same period last year, when AudioCodes had revenues of US$5.6 million. Net income for the nine months ended September 30, 1999 was US$6.6 million, versus a net loss of US($320,000) for the same period last year. Fully diluted earnings per share was US$0.38 compared with a fully diluted loss per share of US$(0.03) for the nine months ended September 30,